Somnath is passionate about AI, Blockchain, NFTs, algorithmic art and trading!
Beginners Guide to Smart Contracts
Disclaimer: Blog co-authored by combining Team AI and Team human!Why Smart Contracts?Ever thought about buying or selling a house without paying the middle-people? In one of the many innovative use cases, a smart contract can be used to automate the sale of a house. The contract could be programmed to release the funds to the seller once the buyer has transferred the purchase price and the title has been transferred to the buyer. Smart contracts have the potential to revolutionize the way we ...
Beginners Guide to Smart Contracts
Disclaimer: Blog co-authored by combining Team AI and Team human!Why Smart Contracts?Ever thought about buying or selling a house without paying the middle-people? In one of the many innovative use cases, a smart contract can be used to automate the sale of a house. The contract could be programmed to release the funds to the seller once the buyer has transferred the purchase price and the title has been transferred to the buyer. Smart contracts have the potential to revolutionize the way we ...
Introduction to Web3 Wallets
Disclaimer: This blog was created with the help of three powerful assistants who are yet to have an email address :-)What is Web3?Web3 is the next evolution of the internet. While Web1.0 was about static content and Web2.0 was about interactive content, Web3 is about decentralized and trustless transactions. It's powered by blockchain technology, which allows for peer-to-peer transactions without the need for intermediaries. It is a decentralized web where users have more control over th...
Introduction to Web3 Wallets
Disclaimer: This blog was created with the help of three powerful assistants who are yet to have an email address :-)What is Web3?Web3 is the next evolution of the internet. While Web1.0 was about static content and Web2.0 was about interactive content, Web3 is about decentralized and trustless transactions. It's powered by blockchain technology, which allows for peer-to-peer transactions without the need for intermediaries. It is a decentralized web where users have more control over th...
NFT Round-up Sep, 2022
Sep 12, 2022SummaryAfter a brutal cryptocurrency summer, let us take a look at where NFTs stand now. CryptoSlam shows 188,300 buyers spent $110 M on NFTs over the past 7 days. This meant, NFT sales down a bit (- 1.8%) compared to last week. Two of the most noticeable trends were the emergence of Ethereum Naming Service (ENS) as the leader based on highest 7-Day Trading volume on OpenSea and the emergence of Solana based NFTs and Marketplaces like MagicEden.LeadersSolana NFT marketplace double...
NFT Round-up Sep, 2022
Sep 12, 2022SummaryAfter a brutal cryptocurrency summer, let us take a look at where NFTs stand now. CryptoSlam shows 188,300 buyers spent $110 M on NFTs over the past 7 days. This meant, NFT sales down a bit (- 1.8%) compared to last week. Two of the most noticeable trends were the emergence of Ethereum Naming Service (ENS) as the leader based on highest 7-Day Trading volume on OpenSea and the emergence of Solana based NFTs and Marketplaces like MagicEden.LeadersSolana NFT marketplace double...
NFT Rentals - From vanity to utility
OverviewIn this post, I will be discussing a lesser known capability with NFTs - the ability to rent NFTs using EIP-4907, a new standard. This standard and capability has the potential to drive up a whole new economy within GameFi and beyond.OpportunityGamefi is currently estimated at $21B+ and overall gaming industry is at $178B+.As Blockchain games evolve, NFTs will be a huge part of this for reasons like true ownership, provenance and interoperability.PainAccording to OpenSea, as of Aug 21...
NFT Rentals - From vanity to utility
OverviewIn this post, I will be discussing a lesser known capability with NFTs - the ability to rent NFTs using EIP-4907, a new standard. This standard and capability has the potential to drive up a whole new economy within GameFi and beyond.OpportunityGamefi is currently estimated at $21B+ and overall gaming industry is at $178B+.As Blockchain games evolve, NFTs will be a huge part of this for reasons like true ownership, provenance and interoperability.PainAccording to OpenSea, as of Aug 21...
Blockchains as Profit Centers
This is not my original. It is an attempt to create a short and simplified version of a key article I read in Bankless recently. How do we evaluate Blockchains based on Profits? Basic definition: Profits = Income - Expense For Blockchains:Income can be modeled as fees brought in per day / month / quarterExpense can be modeled as issuance per day / month / quarterBlockchains earn revenue from transaction fees while their costs are what they pay for security via issuance. On the other hand they...
Blockchains as Profit Centers
This is not my original. It is an attempt to create a short and simplified version of a key article I read in Bankless recently. How do we evaluate Blockchains based on Profits? Basic definition: Profits = Income - Expense For Blockchains:Income can be modeled as fees brought in per day / month / quarterExpense can be modeled as issuance per day / month / quarterBlockchains earn revenue from transaction fees while their costs are what they pay for security via issuance. On the other hand they...
